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The Journal of Real Estate Finance and Economics

The Journal of Real Estate Finance and Economics OnlineFirst articles


REIT Operational Efficiency: External Advisement and Management

This paper examines the operational efficiency of equity Real Estate Investment Trusts (REITs) with respect to external advisement and management. We employ data envelopment analysis (DEA), a non-parametric statistical procedure that tests whether …


When Appraisers Go Low, Contracts Go Lower: The Impact of Expert Opinions on Transaction Prices

Using home purchase loan application data, we study buyer responses to the uncommon occurrence of the appraised value coming in below the contract price (i.e. a low appraisal), which sharply raises the probability of downward price renegotiation.

12-02-2021 Open Access

Sex and Selling: Agent Gender and Power in the Resale Housing Market

This paper uses a search model with Nash bargaining to identify various channels through which agent gender affects selling price and selling time in the resale market for houses. The theory is used in conjunction with the empirical model to infer …


Customer Concentration and Corporate Real Estate Holdings

We present new empirical evidence that higher customer concentration leads to lower corporate real estate holdings at the supplier firm level. Further evidence shows that this effect is causal and more pronounced when the likelihood/impact of …


How Much Are Borrowers Willing to Pay to Remove Uncertainty Surrounding Mortgage Defaults?

Using a large, non-student sample, we assess and differentiate between borrowers’ Risk Aversion and Ambiguity Aversion levels and their willingness to pay to resolve a mortgage default settlement negotiation. Ambiguity Aversion is found to be …

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About this journal

Recent times have seen an expansion of theoretical and empirical research on real estate using the paradigms and methodologies of finance and economics. Examples of this research include the working and structure of markets, the role of various institutional arrangements, the attention given mortgages and asset securitization, risk management and valuation, and public policy and regulation. The Journal of Real Estate Finance and Economics provides a forum for the publication of this research. Coverage includes urban economics, housing, regional science and public policy.

Officially cited as:

J Real Estate Finance Econ

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